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Renasant (RNST)
:RNST
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Earnings Data
Report Date
Jan 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.57Last Year’s EPS
0.5Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2018
|% Change Since: 12.48%
|Next Earnings Date:Jul 17, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive and negative aspects. There were strong signs of financial improvement and successful core deposit growth, as well as important progress in the merger with The First. However, there were also challenges, including a decline in mortgage division income, an increase in criticized loans, and a decrease in adjusted noninterest income.Company Guidance
In the third quarter of 2024, Renasant Corporation reported earnings of $72.5 million or $1.18 per diluted share, which included a $39 million after-tax gain from the sale of its insurance agency and $9.5 million in after-tax merger and conversion expenses. Excluding these items, adjusted earnings were $43 million or $0.70 per diluted share. Net interest income rose by $6 million from the previous quarter, driven by increased loan yields and proceeds from a capital raise, while traditional deposits grew by over $285 million, keeping noninterest-bearing deposits flat. Deposit costs only increased by 4 basis points compared to 12 in the prior quarter. The company also achieved a 3 basis point increase in adjusted net interest margin to 3.32%. However, income from the mortgage division fell by $1.3 million due to a decrease in the gain on sale margin and pipeline fallout. Noninterest expenses, excluding merger costs, decreased by $2.2 million to $110.7 million. The provision for credit losses on loans was $1.2 million, with net charge-offs of $703,000, maintaining the ACL at 1.59% of total loans. Despite an increase in criticized loans, asset quality was deemed adequately reserved, and the adjusted efficiency ratio decreased by 198 basis points, reflecting improved financial performance.Strong Core Deposit Growth
Traditional deposits increased over $285 million from the second quarter, with noninterest-bearing deposits remaining flat quarter-over-quarter.
Improvement in Financial Metrics
Adjusted efficiency ratio decreased by 198 basis points, and adjusted return on average assets increased by 7 basis points on a linked-quarter basis.
Merger Progress with The First
Shareholders of both Renasant and The First approved the merger, with the closing expected in the first half of 2025.
Increase in Net Interest Income
Net interest income increased by $6 million on a linked-quarter basis.
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RNST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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RNST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $32.28 | $34.01 | +5.36% |
| Jul 23, 2024 | $36.24 | $35.46 | -2.15% |
| Apr 23, 2024 | $29.90 | $30.04 | +0.47% |
| Jan 23, 2024 | $31.54 | $31.77 | +0.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Renasant (RNST) report earnings?
Renasant (RNST) is schdueled to report earning on Jan 28, 2025, TBA Not Confirmed.
What is Renasant (RNST) earnings time?
Renasant (RNST) earnings time is at Jan 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RNST EPS forecast?
RNST EPS forecast for the fiscal quarter 2024 (Q4) is 0.57.
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